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- Renascor Resources (RNU) intersects widespread high-grade graphite intersections at the Siviour graphite deposit in South Australia
- The company recently completed a 2873-metre reverse circulation drilling program at Siviour
- Drilling has confirmed the continuity of widespread high-grade graphite within the deposit and increased the confidence at the project
- Assay results from the drilling include 28 metres at 8.2 per cent total graphitic carbon (TGC) from 82 metres
- All results from the drilling will be incorporated into the battery anode materials (BAM) study
- RNU shares are up 12.5 per cent and are trading at 15.8 cents at 10:44 am AEST
Renascor Resources (RNU) has intersected widespread high-grade graphite intersections at the Siviour graphite deposit in South Australia.
The company is currently undertaking an updated optimised battery anode materials (BAM) study, with an aim to increase the previously planned purified spherical graphite production capacity of 28,000 tonnes per annum.
Under the study, Renascor recently completed a 2873-metre reverse circulation program at Siviour.
Drilling has confirmed the continuity of widespread high-grade graphite within the deposit and increased the confidence at the project.
Assay results from the drilling include 28 metres at 8.2 per cent total graphitic carbon (TGC) from 82 metres and 25 metres at 8.4 per cent TGC from 77 metres, including 18 metres at 10 per cent TGC from 84 metres.
Siviour is the second largest reported proven graphite reserve in the world and
the largest Graphite Reserve outside Africa.
“These results continue to confirm that Siviour is a tier one graphite orebody and, given
its favourable deposit geometry and location in South Australia, presents Renascor with
an opportunity to become a globally significant low-cost producer of high-value purified
spherical graphite for use in electric vehicles,” Managing Director David Christensen said.
The remaining drill holes completed in the recent drill program will be reported as results become available.
All results from the drilling will be incorporated into the BAM study.
As the market opens, RNU shares were up 12.5 per cent and were trading at 15.8 cents at 10:44 am AEST.
